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The impact of the oil price uptick on bad debts and problem loans

Maritime Risk International

The impact of the oil price uptick on bad debts and problem loans

Laura Hamilton, of Norton Rose Fulbright, discusses the ongoing impact of the oil price on the shipping sector

It makes a pleasant change to open an article about the oil price on a positive note. In recent weeks, since OPEC announced its first planned output cut in eight years, oil prices have crept back up to just above US$50 per barrel. This increase has led to some analysts broadcasting positive sentiments about future trading, with some believing that there is potential for an upwards break towards $60 per barrel within the next year. This is quite a different story to earlier this year, when the oil price had tumbled down to around $30 per barrel: the outlook was far from positive and most reports painted a gloomy picture.

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